Nationwide Profit Slips as It Shields Savers From Rate Cut (1).

London powers mortgage-loan boom for customer-owned lender Nationwide Building Society, the U.K.'s second-largest home loan provider, reported a fall in annual profit as it accelerated lending at low margins while opting not to pass on an interest rate cut to savers. Since 2013, residential mortgage lending surged 41 percent to 58.3 billion pounds in London, comprising 34 percent of its home loan book. [Extracted from the article]